LOUISA COUNTY LAND AUCTION

COLUMBUS JUNCTION, IOWA
The land is located 4 1/2 miles south of Columbus Junction/Columbus City on X17.  OR 3 miles north of Winfield, IA on W66, then 1 ½ miles East on G62, then 1 ½ miles north on X17. Watch for signs.

Auction to be held at the Youth Learning Center at the Louisa County Fairgrounds, Columbus Junction, Iowa.  

THURSDAY, JUNE 15, 2017 AT 10:00 A.M.

117 Acres M/L – SELLS IN 3 TRACTS

“Selling Choice with the Privilege”
Tracts #1, 2 & 3 will be sold price per acre and will be sold Choice with the Privilege, whereas the high bidder may take Tract #1, Tract #2, Tract #3 or all tracts or any combination of tracts, in any order, for their high bid.  This will continue until all three tracts are sold.  Tracts will not be recombined.

Auctioneer’s Note:  The tillable land is rented for the 2017 crop year.  Rent will be prorated to the date of closing.

TRACT #1 – 19 Acres M/L – Subject to final survey
Approx. 14.5 acres tillable, in addition to approx.. 3 acres tillable which was in CRP.
Corn Suitability Rating 2 of 80.7 (CSR 1 of 80.2) on the tillable.
Located in Sections 13 & 14, Elm Grove Township, Louisa County, Iowa.

TRACT #2 – 33 Acres M/L – Subject to final survey
Approx.  26 acres tillable, in addition to approx.. 4 acres tillable which was in CRP, balance being timber.
Corn Suitability Rating 2 of 77.3 (CSR 1 of 74.4) on the tillable.
Located in Sections 14 & 23, Elm Grove Township, Louisa County, Iowa.

TRACT #3 – 65 Acres M/L – Subject to final survey
FSA information: 48.75 acres tillable, in addition to 9.32 acres tillable which was in CRP, balance being timber.
Corn Suitability Rating 2 of 82.8 (CSR 1 of 85.6) on the tillable.
Located in Sections 13 & 24, Elm Grove Township, Louisa County, Iowa.


TERMS ON ALL TRACTS

Terms: 20% down payment on June 15, 2017. Balance at closing with a projected date of July 31, 2017, upon delivery of merchantable abstract and deed and all objections have been met.
Possession: Projected date of July 31, 2017 (Subject to tenant’s rights)
Real Estate Taxes:  To be prorated to date of possession on the basis of the last available tax statement.  Seller shall pay any unpaid real estate taxes payable in prior years.

As this real estate is being split from other land not selling, the following real estate taxes are approximates:

Tract #1

Gross                       $440.07

Ag. Credit                   (18.93)

Family Farm Credit     (13.31)

Net                          $408.00 (Approx.)

Tract #2

Gross                       $831.97

Ag. Credit                   (35.83)

Family Farm Credit     (25.25)

Net                                     $772.00 (Approx.)

Tract #3

Gross                       $1,647.27

Ag. Credit                       (70.93)

Family Farm Credit         (49.99)

Net                                     $1,526.00 (Approx.)

Special Provisions:

·       The land is selling subject to tenant’s rights and is rented for the 2017 crop year.  Rent will be prorated to the date of closing.  The cash rent is $223.97 per tillable acre.

·       It shall be the obligation of the buyer(s) to serve termination to the tenant, prior to September 1, 2017, if so desired.

·       It shall be the obligation of the buyer(s) to report to the Louisa County FSA office and show filed deed(s) in order to receive the following if applicable:   A. Allotted base acres.  B. Any future government programs. Please note that the final tillable acres will be determined by the Louisa County FSA office, as this land is being split from other land that is not selling.

·       All Tracts will be surveyed by a registered land surveyor and surveyed acres will be the multiplier for each tract.

·       This auction sale is not contingent upon Buyer’s financing or any other Buyer contingencies.

·       The buyer(s) shall be responsible for any fencing in accordance with Iowa state law.

·       If one buyer purchases more than one tract, the seller shall only be obligated to furnish one abstract and deed. (husband & wife constitute one buyer)

·       The buyer(s) shall be responsible for installing his/her own entrances if needed or desired.

·       If in the future a site clean-up is required it shall be at the expense of the buyer(s).

·       This real estate is selling subject to any and all covenants, restrictions, encroachments and easements, as well as all applicable zoning laws.

·       The buyer(s) acknowledge that they have carefully and thoroughly inspected the real estate and are familiar with the premises. The buyer(s) are buying this real estate in its "as is" condition and there are no expressed or implied warranties pertaining to the same.

·       Any announcements made the day of sale take precedence over advertising.

Marilyn K. Owens Trust
Craig A. Owens - Trustee
Diane E. Puthoff – Attorney for Trust

For more information contact Nate Larson of Steffes Group at 319.385.2000 or 319.931.3944(cell)